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Nov 29, 2012 6:00pm PST
$25 billion budget deficit, brown proposed dissolving redevelopment agencies in 2011. now, remember this date. january 10th, 2011. that's when brown unveiled the legislation. ab 1 x 26. sounds futuristic, doesn't it? the state is starting in 2011 redevelople agencies, quote, shall be unauthorized and shall not take certain actions that include the ability to pledge or encumber for any purpose any of its assets or revenues. closed quote. now fast forward six months. the governor signs the bill into law, applying it retroactively to january 1. but here's what happens in between. cities throughout california including santa clara scramble to shift all of the land and property assets that were under the redevelopment agency's name into the city's name. in santa clara, this includes real estate like the convention center and the 100 acres underneath great america. property originally purchased by the taxpayers of santa clara but later moved to the redevelopment agency in the '80s. because the recent mad transfer of property ensued after january 1. the state could conceivably take that la
Search Results 0 to 0 of about 1